BRICS to build on investment benefits
Its all systems go for the 10th BRICS summit to kick off at the Sandton Convention Centre in Johannesburg.
Heads of states from China, Russia, Brazil, India and other African states will attend the summit that kicks off Wednesday until Friday.
President Cyril Ramaphosa is expected to deliver the opening address this afternoon.
Russian President Vladimir Putin, China's President Xi Jinping and Indian Prime Minister Narendra Modi are expected to address the various nations present.
At the top of the agenda is the looming trade war between the US and China and it's impact on global trade.
Leading economist Dr Azar Jammine believes South Africa can gain great benefits from 10th BRICS summit.
"South Africa is a relevantly small economy in relation to all the other BRICS countries and therefore stands to derive a proportionately large benefit," says Econometrix's Jammine.
China confirmed that its government will invest $14.7 billion in the South African economy.
"Whether this will translate into real implementation of new infrastructure and projects remain to be seen. There are a lot of promises that South Africa have received in recent weeks of large sums of investment, but we still waiting to see how they materialise in practice."